PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Google has launched a suite of new services geared to helping retailers deliver personalized experiences to their customers. The tools, which the company is calling Product Discovery Solutions for Retail, uses AI and Google search technology to help customers find products within retailers’ catalogs. From VentureBeat.
The Central Bank of Nigeria has issued new guidelines related to strengthening the country’s payments system. In one of two documents, the bank sought to lay out a framework for operations, risk management and reporting around its QR code payments system. In the second, it defined rules for a regulatory sandbox that would help drive development of innovative technologies in a controlled manner. From The Guardian.
The growth of payment methods such as digital wallets, QR codes and other tech-based options overtook the growth of credit and debit cards in Southeast Asia during the past year. The pandemic drove demand for contactless payment options to reduce health risk. The new cashless payment habits are likely to continue after the pandemic, according to a Visa survey that found 78% of Singaporeans said they would continue using the digital payments after the virus passes. From Tech Wire Asia.
Digital payments are being adopted across income levels in India. According to a survey from National Payments Corporation of India and People Research on India’s Consumer Economy, half of India’s richest 20% of households use digital payments while a quarter of the poorest 40% of households do as well. Some survey respondents said they were interested in using digital payments but needed assistance to do so. From Economic Times.
The United Arab Emirates is another country that is sharply shifting away from cash to contactless payments because of the pandemic. This is according to a global report from the Mastercard Economics Institute, which detailed the economic impact of the coronavirus, including changes in spending habits. Another recent study reported that almost three-fourths of UAE consumers were shopping more online than they had before the pandemic. From Khaleej Times.
Pineapple Payments: Pineapple Payments Announces Acquisition of 1st Payment Systems
USA Technologies: USA Technologies Granted New US Patent